In 2021, The 10 Most Expensive Celebrity Residences Sold
OneofIndia'smostvibrantrealestatemarkets,luxurypropertyhasexperienceda remarkablecomebacksincethepandemic.HomebuyerswhoareHNIs(HighNetWorth Individuals)andNRIs(Non ResidentIndians)havegainedthemosttractioninthe category,whichhasdevelopedasadesirableinvestmentlocation.
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Asthedemandforluxuryresidencesincreased,2021sawasteadycomebackfromthe epidemic.Accordingtoarecentestimatebytheindustry,NRIrealestateinvestmentsalone reachedarecordhighof$13.1billioninFY21andareprojectedtoreach$14.9billionin FY22.Manyconsumerstodaywanttoliveinecosystemswithgoodconnectivityandawide rangeofoptionsforwork live play.Therehasbeenanoticeabletrendtowards individualizedandfullyservicedhouses,whichincludemaintenance,conciergeservices, upscaleamenities,cutting edgesecurity,andotherbasicconveniences.
Buyersnowarewillingtopayapremiumfortheturnkeylifestyleandexperienceproperty characteristicsthatthesepropertiesoffer, Additionally,attentionhasswitchedtoareas likehealth,safety,balancedliving,andhousesthatintegratetechnologyintodailylife. Largerhomeswithadaptablefloorplans,specificworkplaces,morenaturallightingand ventilation,outdoorspaces,andamenitiesthatsupporttheirgeneralwellbeingareinhigh demand.Peoplearebecomingmoreinterestedinintegratedtownshipsastheylongfor homesinself sufficientenvironswiththebenefitsofcontemporaryurbanliving,evenas demandforready to move inhomescontinuestorise.
Radhakishan Damani, Dmart's founder
Malabar Hill, Mumbai
RadhakishanDamani,asuccessfulinvestorandthecreatorofAvenueSupermarts, purchasedthemostexpensivehomeinIndiain2021.ThepropertywasboughtforRs 1,000andislocatedinMalabarHill,Mumbai.Thehomehasa5,700squaremetrefootprint.
PremchandRoychand&SonsLLC&PhoenixFamilyTrustsoldthe90 year oldpropertyto Damani,oneofIndia'swealthiestpeople,throughthetrusteesandbusinesspartners VarshaMehta,SaurabhMehta,andJayeshShah.
Raheja Artesia, Worli, Mumbai
ThepromotersoftherealestatecompanyKRahejaCorp,Neel&RaviRaheja,purchased thesecond mostcostlyhomein2021.Theypurchasedthreeduplexapartmentsinthe opulentRahejaArtesiabuildinginWorli,Mumbai,forRs427crore.Theareaofthe propertyis66,811squarefeet.
Neel and Ravi Raheja, Promoters, Raheja GroupJK Paper Ltd. Director Amar Singh Mehta
Delhi's Prithviraj Road
OneofNewDelhi'smostupscaleaddressesisPrithvirajRoad.Therefore,itisnot unexpectedthatAmarSinghMehta,DirectorofJKPaper,paidalmostRs250croreforthe 3,731squareyardbungalow.OneofthelargestrealestatetransactionsinDelhiin2021 wasthisone.ThesellersofthisopulenthomeintheLutyen'sBungalowZonewere VikramjitSinghandBhaiManjitSingh,whowereconnectedtoRanbaxy'sfounderBhai MohanSingh.ThepropertywasregisteredinthenameofJKPapersLtd.
Promoters for the Jaquar Group, Rajesh and Ajay Mehra
Delhi's Westend Greens
InApril2021,theJaquarpremiumsanitarywarebrand'sbrothersAjayandRajeshMehra purchasedthreeopulentfarmhousesinSouthDelhi'sWestendGreensneighbourhood. Eachfarmhousehasasizeof2.5acres,andthedealwascompletedforRs235crore.
Panhar Bungalow, Worli, Mumbai
ThePanharBungalow,whichislocatednexttotheWorliseafront,waspurchasedby GhanshyambhaiDhanjibhaiDholakiaforRs185crore.
HariKrishnaExports,adiamondbusinessbasedinSurat,willusethispropertyasahome foritsownerandhisfamily.Thebungalowoccupiesaspaceof19,886squarefeetandhas sixlevelsinadditiontoabasement.ThishousewassoldbyArkayHoldingLtdeventhough HarikrishnaExportsPvtLtdwaslistedastheownerontheregistration.
The founder of Aakash Education is JC Chaudhry.
Delhi, Vasant Vihar
JCChaudhary,thefounderofAakashEducationalServices,boughtasizable2,000square yardbungalowinVasantVihar,Delhi.AdityaTechnoBuildPrivateLtdsoldtheon the main roadpropertyforRs150crore.Inaccordancewiththepermittedfloorarearatio,the overallareaoftherebuilthousemightreach36,000squarefeet.
Hari Krishna Exports' owner, Ghanshyambhai Dholakia
PromoterofthewireandcablecompanyKEIIndustries,AnilGupta,paidRs140crorefora bungalowinShantiNiketan.DineshandSumantDhamija'sformerhomeisnow demolished,andthenewownerwillbepermittedtoadduptofourlevels.
AlthoughShantiNiketanisneartotheLutyen'sZone,therearelessconstruction restrictionstherethanthereareintheLutyen'sZone.
Morena House, Carmichael Road, Mumbai
ThepromotergroupofJBChemicalsandPharmaceuticalsincludingPurviAsherand PranabModypaidRs138crorefortwoseaviewflatsonCarmichaelRoadinMumbai.The JSWGroupisdevelopingthehousingcomplexMorenaHouse,whichisstillunder development.Modypurchaseda5,341squarefootflatonthefifthfloor.HissisterAsher paidRs68crorefora5,284squarefoothomeonthefourthfloor.
Promoter of KEI Industries, Anil Gupta Delhi's Shanti Niketan
Managing Directors of JB Chemicals & Pharmaceuticals are Pranab Mody and Purvi Asher.
Realcon Abeeys LLP, ABIL Group Malabar Hill satellite viewing, Mumbai
OntheNapanSeaRoadinSesen,aduplexwasboughtbyAvinashBhosale'sAbeey's RealconLLP.Theresidence,whichoccupiesthe53rd&54thfloors,is7118squarefeetin sizeandhasapatiothatis3503squarefeetinsize.
In2021,SMDyechemalsopaidRs103.6croreforaduplexonthe51st&52ndfloorsofthe samebuilding.
Theseareafewofthenotabletransactionsfor$100millionormorethatwerecompleted in2021.Therewerealsoseveraltransactionsbetween$50and$100million.Kris Gopalakrishnan,aco founderofInfosys,paidRs76croreforahouseinBangalore's Koramangalaneighbourhood.
Thedepreciatingvalueoftherupeeinrelationtothedollarhassignificantlyincreasedthe demandforultra luxuryhomesandvillasamongNRIs&HNIs.It'sinterestingtonotethat suchdealsbalanceinvestmentandend use.Additionally,someofthedealscontributeto theinvestmentportfoliosofpeoplewithdeeppockets.
Promoters for the NL Dalmia Institute is Shailesh and Natasha Dalmia. Raheja Artesia, Worli, Mumbai Foursea-facingapartmentsatRahejaArtesia,WorliwereboughtbyNatasha&Shailesh DalimaforatotalofRs125crore.The11,000squarefootapartmentsareonthe33rdfloor. Aspartoftheagreement,thepairwillalsohaveaccessto12parkingspaces.